Sladen House for sale again

Jessica Benton
Iconic Newtown property Sladen House is back on the market nine months after it was sold to a failed interstate finance company.
And the buyer could reap a $1 million advantage amid expectations of a lower re-sale price that would also fail to recoup the cost of extensive renovations.
North Queensland’s Storm Financial put the property back on the market after going into voluntary liquidation in January with debts of more than $80 million.
Knight Frank Real Estate’s Simon Jarman said Storm Financial purchased the historic property in July for $2.5 million.
The company had since completely renovated the reception centre into “high quality offices”, he said.
The Storm purchase left about 20 surprised couples without a reception venue when work started on the renovations.
A report in Melbourne’s Age newspaper said industry sources expected Sladen House to sell for about $2 million.
The report said Storm had also spent about $500,000 on the renovations.
But Mr Jarman expected a similar sum to the price Storm initially paid when Sladen House went under the hammer in a receiver’s auction next week.
“There has been very good interest from local and external buyers,” he said.
Storm had planned to use the property as a Victorian headquarters.
The heritage-listed bluestone mansion sites on the banks of the Barwon River in Newtown’s Pakington Street.
Built in 1850, the house’s former tenants included Victoria’s sixth premier, Charles Sladen.
Sladen House will go to auction at 1pm on Thursday.